Banned Perth financial adviser caught up in High Court action in NZ

A former Perth-based businesswoman is in trouble on both sides of the Tasman.

The Australian Securities and Investments Commission (ASIC) today announced that Marion Joan Pearson has a permanent ban from working in the financial services industry in Australia.

In a statement, ASIC found that Ms Pearson engaged in conduct that was dishonest, misleading and deceptive.

Ms Pearson was the sole director and shareholder of Colisa Limited, the company traded as Anmar Financial Consultants. She also was an authorised representative of Ballast Financial Management Limited in the period of November 2007 to October 2013.

ASIC found that Ms Pearson "misled specified clients into believing the clients' funds were placed in particular investments, when in fact, she had not done so."

Ms Pearson relocated to New Zealand, and in 2014 became the director of a cleaning supplies company, Philip Moore Limited.

Her directorship of that company is under question.

Philip Moore Limited today told ONE News that Ms Pearson had recently been appointed as a director of the company by a retired lawyer acting as the power of attorney in respect to one of the family members.

The Executive Director of Philip Moore Limited, Anne Surridge, is challenging the validity of Ms Pearson's appointment through the High Court.

The Ministry of Business, Innovation and Employment has been approached by ONE News Now for comment.